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What: Shares of Stillwater Mining
So what: Production at two Montana mines grew 6% to 130,000 ounces helping revenue rise 77% to $253.7 million for the quarter. That drove earnings dramatically higher to $40.7 million, or $0.37 per share, higher than the $0.33 analysts were expecting.
Now what: High palladium and platinum prices helped drive results, but production was also better than expected. Management did point out that prices fell during the quarter because of the turmoil in Europe, so it might not be reasonable to expect another blowout like this next quarter. Investors should be pleased with the results, but I'm not seeing a need to run out and buy shares unless production is increased in the future.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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